Indian retail sector is witnessing one of the most hectic Marketing activities of all times. The companies are fighting to win the hearts of customer. There is always a ‘first mover advantage’ in an upcoming sector. This advantage goes to “BIG BAZAAR” in India. It has brought about many changes in the buying behavior of people as Big Bazaar provides all items in one roof at low rates. The consumer’s preferences are changing & they are moving from shops stores to Modern Retail outlet. It’s the main challenge to the Modern retail outlets to attract the customers towards them from that of competitors. To attract more customers companies have to carry out the promotional activities in unique way. BIG BAZAAR has maintained that uniqueness & has succeeded in attracting customers. The promotional activity of the company, which famous as Less Price than others as it says ‘Nobody Sells Cheaper and Better!’ is made its place in minds of customer. As the competition is becoming stiff in the market the activities conducted by the company are unique, that have brought fruitful result to the company. Among them sales Promotions is one of the leading activity or unique among all other activities & has high influence on the customer who walks-in.
In this assignment, I have described its marketing strategies and promotional activities. The assignment is based on ‘the effective marketing strategy which influences customer to purchase a product of Big Bazaar’ helps to understand the effect of marketing strategy which is responsible for attracting customer towards big bazaar. The research was carried out as per the steps of Marketing Research. The well supportive objectives were set for the study. To meet the objectives primary research was undertaken. The data collection approach adopted was experimental research.
1.2 ORGANISATION PROFILE
1.2.1 FUTURE GROUP
Future Group is one of the country‘s leading business groups present in retail, asset management, consumer finance, insurance, retail media, retail spaces and logistics. The group‘s flagship company, Pantaloon Retail (India) Limited operates over 7 million square feet of retail space, has over 1000 stores across 53 cities in India and employs over 25,000 people. Some of its leading retail formats include, Pantaloons, Big Bazaar, Central, Food Bazaar, Home Town, eZone, Depot, Future Money and online retail format, futurebazaar.com. Future Group companies includes, Future Capital Holdings, Future General India Indus League Clothing and Galaxy Entertainment that manages Sports Bar, Brew Bar and Bowling Co. Future Capital Holdings, the group‘s financial arm, focuses on asset management and consumer credit. It manages assets worth over $1 billion that are being invested in developing retail real estate and consumer-related brands and hotels.
(Is se sasta aur accha kahin nahi!) Big Bazaar caters to every need of the customer and his/her family. Where Big Bazaar scores over other stores is its value for money proposition for the Indian customers. Big Bazaar promises the best products at the best prices. With the ever increasing array of private labels, it has opened the doors into the world of fashion and general merchandise including home furnishings, utensils, crockery, cutlery, sports goods and much more at prices that will surprise you. And this is just the beginning. Big Bazaar always plans and tries to add much more to complete the shopping experience.
1.2.2 Company Statements:
Future Group Manifesto
“Future” – the word which signifies optimism, growth, achievement, strength, beauty, rewards and perfection. Future encourages us to explore areas yet unexplored, write rules yet unwritten; create new opportunities and new successes. To strive for a glorious future brings to us our strength, our ability to learn, unlearn and...